Bill Would Allow Consumers To Sue When Bankrupt Debt Isn't Removed From Credit
Under federal law, when someone erases a debt in bankruptcy, their bank is required to update their credit reports to indicate the debt is no longer owed. To ensure this happens, legislators have introduced a new bill that would give credit card …
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In da club of Chapter 11 bankruptcy: 50 Cent is not broke — he's insolvent
"What they are is insolvent, which means unable to pay all one's debts as they become due, and that is precisely what the bankruptcy laws are designed to address," he added. Details about Jackson's assets and debts are paltry, but in a statement …
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U.S. Supreme Court ruling preserving second mortgages in Chap. 7 bankruptcies
The recent decision by the U.S. Supreme Court in the case of Bank of America v. Caulkett represents an important win for mortgage lenders as well as community associations. The court ruled that homeowners who are underwater on their first mortgage …
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